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Headline: Shop rents cut by almost a third
Description: Shop rents in the UK have been cut by almost a third as landlords attempt to keep their existing customers, according to a poll by property consultant firm DTZ.

Rising vacancies in shopping centres and high streets have caused rents to drop, with retail rents down an average of 30% in the past year on new leases being agreed.

Landlords are increasingly offering rent-free premises to entice businesses into signing long terms deals in their properties.

"We are trying to hold our line as best we can, but rents have to be affordable for retailers," said Mark Williams, head of retail at DTZ.
Date: 06.05.2009
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